It is not everybody that would have opportunity of being employed by public or private establishments. For those who have been chosen and done excellently in all the tasks assigned to them daily, there is a need to plan for transition into entrepreneurship world. A place where their commitment, creativity, and exceptional interpersonal skills become helpful for a number of people. When planning entry into entrepreneurship world, one needs to do critical self-analysis, examining strengths as well as weaknesses within the sector intend to explore.
Experts believe that employees could become entrepreneurs when they might have perceived business opportunity in which they have the strengths while on the traditional job. The one which does not give room for total freedom on management of human and material resources innovatively. Your creativity and ideas that are not appreciated by your employer would unarguably value by prospective buyers, who want their needs and problems be approached with the creativity and ideas you possessed.
Thus, you have the greater chance of creating enough income than when the same creativity and ideas are only being paid for with meager salary or wages. There are a number of reasons why an employee in Nigeria should consider transition into the entrepreneurship. These reasons are both physical and psychological in nature.
Why you should move from employee to entrepreneur
With the latest financial crisis in almost all the states in the country, governments have resulted to what could be described as ‘’percentage-salary payment system” rather than full payment. The effects of this development on many employees are unquantifiable in terms of meeting various social and economic needs. For those who have understood small businesses and engage in one or two, meeting the needs are not challenging. Minimally, private firms are paying their workers but the fact still remains that an employee needs to turn the time and ideas being paid for into personal business.
There is limited freedom while working for someone, but a total freedom inclusive of how you manage your financial resources and time is assured when you are an entrepreneur. There are employees, who want to involve in complex activities capable of improving their creativity and strategic thinking process, but bureaucratic nature of most organisations usually restricts them. In order words, employees want to develop ideas, take charge and implement them with passion, whereas firms do not want to shift their traditional ways of management. If you happened to be one of the intrapreneurs, you have the every chance to become a successful employee-entrepreneur.
However, for you to be successful in the sector and opportunity you have chosen, experts say, you need to determine what you would like to do. This should come directly from your passion and experience you have gained. You also need to research what people would actually buy and speak with them to determine their demographics. Other steps suggested include designing of marketing and business plans, assemble a team and structure the business. Above all, start on a small scale while thinking big.
Would you rather be working for yourself? If your answer is yes, then you need to consult professional and strategic business advisor on further advice on how you could successfully transit into entrepreneurship, considering contemporary micro and macro business environments in Nigeria, and beyond.